ALAMO GROUP | March 08, 2022
Alamo Group Inc. (NYSE: ALG) announced today a 2030 target to reduce its greenhouse gas emissions by 50% as compared to its 2019 base year. This target covers Scope 1 & 2 emissions as defined in The Greenhouse Gas (GHG) Protocol Corporate Accounting and Reporting Standards published by the World Business Council for Sustainable Development and World Resources Institute. Additional information regarding the Company's sustainability goals and actual emissions for the past three years will be included in its forthcoming 2021 Sustainability Report.
"We are pleased to announce an initial 2030 target for reducing our Company's greenhouse gas emissions. Setting meaningful Scope1 & 2 GHG emissions goals is an important step in the right direction. Since 2019, our Company has reduced, in absolute terms, its total energy consumption by about 9%, and we anticipate that we will further reduce it by an additional 30% by 2030. More efficient use of energy, which accounts for 97% of our GHG emissions, will be a primary driver toward achieving our 2030 emissions goal. Investments in LED lighting and energy management systems, as well as energy efficient welding, laser cutting, and air compression equipment have been, and are expected to be, the major contributors in this effort. Installing more efficient heating systems and other building improvements to reduce winter heat loss are also expected to produce significant favorable impacts."
-Dan Malone, Alamo Group's Executive Vice President and Chief Sustainability Officer,
About Alamo Group
Alamo Group is a leader in the design, manufacture, distribution and service of high quality equipment for infrastructure maintenance, agriculture and other applications. Our products include truck and tractor mounted mowing and other vegetation maintenance equipment, street sweepers, snow removal equipment, excavators, vacuum trucks, other industrial equipment, agricultural implements, forestry equipment and related after-market parts and services. The Company, founded in 1969, has approximately 4,200 employees and operates 29 plants in North America, Europe, Australia and Brazil as of December 31, 2021. The corporate offices of Alamo Group Inc. are located in Seguin, Texas.
ReNew Power | April 29, 2022
ReNew Power ("ReNew" or "the Company") (NASDAQ: RNW) (NASDAQ: RNWWW), India's leading renewable energy company, today announced it has signed five solar PPAs with Solar Energy Corporation of India ("SECI") and Punjab State Power Corporation Limited ("PSPCL"), as well as multiple long-term purchase agreements with corporate buyers together totalling around 2 GW.
This has seen the company's gross total portfolio jump to ~12.1 GW from 10.2 GW at the beginning of this calendar year.
The new utility solar projects will be located in the western state of Rajasthan and have flat tariffs over 25 years. Four solar PPAs have been signed with SECI, an entity owned by the Government of India that has a AA+ domestic debt rating by ICRA, a subsidiary of Standard & Poor's. The fifth PPA is with PSPCL.
Two PPAs of 600 MW and 375 MW are under the SECI Rajasthan IV scheme, where ReNew will supply electricity at ₹ 2.18/kWh (~US 2.9* ¢/kWh). The other two PPAs with SECI for 300 MW and 100 MW** are under the SECI IX scheme and have a tariff of ₹ 2.37/kWh (~US 3.1 ¢/kWh). ReNew recently acquired a beneficial interest in the 300 MW (SECI IX) and 375 MW (SECI Rajasthan IV) projects, subject to the terms of the respective PPAs.
For the PSPCL PPA of 100 MW, ReNew will supply electricity at ₹2.33/kWh (~US 3.0 ¢/kWh). All the projects are expected to be commissioned by the fourth calendar quarter of 2023.
Corporate buyers have signed long-term agreements with ReNew for the purchase of clean energy or renewable energy credits for approximately 0.5 GW (491 MW), with energy tariffs ranging between ₹ 3.06 - ₹ 3.95/kWh (~US 4.0 ¢/kWh – ~US 5.2 ¢/kWh). The corporates include a large US-based global tech major, Grasim Industries (part of the Aditya Birla Group), and Netmagic (a subsidiary of NTT Communications, Japan). This takes ReNew's overall corporate portfolio to over 900 MW, making it one of the largest renewable energy solutions providers for corporates.
Speaking about the recent spate of PPA signings, Chairman and CEO of ReNew, Mr Sumant Sinha, said: "ReNew is at the vanguard of India's clean energy transition. We believe that our vertical integration, combined with our scale and ability to offer customized intelligent energy solutions, allows us to win projects and provide returns in line with our targets."
"The addition of ~1.9 GW comfortably above our threshold returns is a testament to ReNew's competitive advantages. With this ramp-up in total portfolio addition, ReNew is proud to very much remain at the centre of national efforts to meet India's ambitious climate goals, set by Honourable Prime Minister Narendra Modi at COP26," Sinha added.
The solar modules for these projects are expected to be manufactured at the 2 GW module manufacturing facility being built by ReNew and sourced through tolling contracts with domestic suppliers.
ReNew recently also announced an investment by Mitsui & Co. Ltd in its 1.3 GW round-the-clock renewable energy project, and a joint venture with Indian Oil Corporation and Larsen & Toubro for developing green hydrogen capacity in India.
*1 US$ = ₹ 76.46
** Part of 400 MW won by ReNew under the SECI IX scheme, and included in the 10.2 GW
ReNew is one of the largest renewable energy Independent Power Producers (IPPs) in India and globally. ReNew develops, builds, owns, and operates utility-scale wind energy, solar energy, and hydro projects. As of April 28, 2022, ReNew has a gross total portfolio of ~ 12.1 GW of renewable energy projects across India, including commissioned and committed projects.
Panasonic | April 22, 2022
Panasonic, a global leader in EV battery manufacturing, has joined the Clean Energy Buyers Association (CEBA) as part of its expanded focus on clean energy initiatives, and to help advance its environmental sustainability goals in North America and around the world. As an energy customer member of CEBA, Panasonic aligns with the global alliance of peer companies, energy developers and service providers seeking to unlock the marketplace for energy customers and lead a rapid transition to a carbon-free energy future.
"Panasonic has long been a leader in clean energy technology and manufacturing, including in solar and battery storage, but we must also do our part to mitigate the impacts of our internal carbon emissions, We look forward to becoming more involved in the CEBA member community and collaborating to promote and adopt innovative solutions to effectively deal with the climate crisis."
-Megan Myungwon Lee, Chairman and CEO, Panasonic Corporation of North America.
"Panasonic is proud to join CEBA, as we work to incorporate renewables, energy efficiency, and other innovative tools to reduce the carbon footprint of our operations, We look forward to leveraging CEBA's expertise as we continue on our journey to reach our 2030 and 2050 decarbonization goals."
-Jeff Werner, Vice President, Corporate & Government Affairs, Panasonic Corporation of North America.
On April 1st, Panasonic announced its GREEN IMPACT corporate initiative, aiming to create a global impact that reduces CO2 emissions by more than 300 million tons¹, or approximately 1% of the current total global emissions of 33 billion tons², by 2050. Focusing on four goals in the long-term environmental vision, Panasonic looks to reduce emissions in the value chain including lighting, air conditioning and ventilation; avoid emissions for customers in existing business areas like automotive batteries, supply chain software and air quality; develop new technologies and solutions like hydrogen devices; and use 100% renewable energy throughout its operations.
As member of CEBA, Panasonic gains admission to numerous assets to support its environmental sustainability journey including education materials for all members of the company, collaboration on innovative solutions, exclusive events, and the opportunity to share and amplify the company's market leadership across the industry.
The Clean Energy Buyers Association (CEBA) – a 501(c)(6) trade association – activates a community of nearly 300 members – representing more than $7 trillion in annual revenues and 14 million employees – to deploy solutions for a carbon-free energy system. Most members are institutional energy customers of every type and size and their partners, including energy providers, energy procurement intermediaries, climate and energy NGOs, and industry leading institutions.
About Panasonic Corporation of North America
Newark, NJ-based Panasonic Corporation of North America is a leading provider of Consumer Lifestyle technologies, as well as innovative Smart Mobility, Sustainable Energy, Immersive Experiences, and Integrated Supply Chain solutions for its business and government clients. The company is the principal North American subsidiary of Osaka, Japan-based Panasonic Holdings Corporation. One of Interbrand's Top 100 Best Global Brands of 2021, Panasonic is a leading technology partner and integrator to businesses, government agencies and consumers across the region.
NaaS | February 14, 2022
It is commonly said that new energy vehicles (EV) promotes green energy and travel, so then just how much are emissions reduced by EVs, as compared to traditional internal combustion engine (ICE) vehicles? Recently, NaaS, one of China's leading new energy operations and technology providers, revealed the answer by enabling the transition from ICEs to EVs and facilitating the aforementioned emissions and carbon reduction, receiving recognition from the international testing agency SGS for the amount of emissions reduced in the process. According to SGS's "Assessment Report of Greenhouse Gas Emission Reductions on Alternative Traveling by NaaS Electric Vehicles" (the "SGS Assessment Report"), in 2021, NaaS, through the Company's cooperation with Kuaidian and other partners, provided charging services that reduced carbon emissions by 896,800 tons, based on emissions of 661,100 tons versus the 1,557,9000 tons that would have been emitted by traditional ICEs for the same distances travelled.
The SGS Assessment Report relied on the Clean Development Mechanism (CDM), the 2006 IPCC Guidelines for National Greenhouse Gas Inventories, and the China Certified Emission Reduction (CCER)'s related process and methodologies to make the assessment, and primarily focused on the greenhouse emissions related to EVs that used NaaS' partner Kuaidian's related charging services.
Recently, the global adoption of EVs has reached a breakthrough. In 2021, China's EV sales and penetration rate continues to grow rapidly month on month, and the market has reached a stage of explosive growth. According to statistics from the Public Security Bureau, at the end of 2021, the total number of EVs in China reached 7.84 million, representing 2.6% of all automobiles, and an increase of 59.25% year on year. According to the China Passenger Cars Association (CPCA)'s latest projections, total sales of new EVs is expected to exceed 6 million in 2022, representing a market penetration rate of approximately 22%. In addition, based on the Ouyang Team's analysis and estimates, China's new EV sales will reach between 17 million and 19 million by 2030. In terms of total number of EVs on the road, total EVs in China will reach approximately 100 million by 2030, nearly 200 million by 2035, and nearly 300 million by 2040.
Based on the expected increase in the number of EVs on the road in China, it can be anticipated that the trends driving the transition from ICEs to EVs will continue to strengthen, and bring with it an increasingly strong decarbonization effect. These trends also mean that the market for EV charging services in China have tremendous room for growth and potential for development. NaaS, as an enabler and strong supporter of EV adoption and the government's "Dual Carbon" goals, provides the charging infrastructure and services that enables green energy and travel. NaaS, through the Company's electric charging partners, reliable technology, and strong operational capabilities, will continue to contribute strongly to the decarbonization of transportation services.
As an EV charging operations and technology provider, NaaS services China's fast public charging network by providing software services, hardware and equipment, and integrated technical support, and is a preferred partner within the EV charging industry. NaaS aims to make EV charging more convenient, faster, and the experience better, and enable all members of the industry value chain to improve efficiency and effectiveness. The Company aims to raise the utilization rates of chargers as part of the structural adjustments in China's energy industry, and help realize "Carbon Neutrality" in the process.
SGS is an organization with over 140 years of history in testing, inspection and certification, and is headquartered in Switzerland. SGS is globally recognized for quality and trusted standards assessment. SGS has for six continuous years been included in the Dow Jones Sustainability Indexes, and for the past three years in the FTSE ESG index. SGS has over 96,000 employees globally in 2,600 related branch organizations and laboratories. In China, SGS' services already cover the apparel and shoe industry, electronics, agriculture, food and beverage, chemicals and petroleum, mining, environmental, transportation and e-commerce industries' upstream and downstream supply chain.
Established in 2019, NaaS is one of China's leading new energy operations and technology providers. NaaS is China's leading comprehensive EV charging service platform and is servicing China's #1 fast charger network with over 175,000 fast chargers. NaaS also offers hardware, software, and technology services and solutions to charger operators and works with all members of the EV charging value chain. NaaS aims to make EV charging easier, better, and more efficient for all stakeholders, and to promote and ensure decarbonization and carbon neutrality throughout the automotive value chain.